SunEdison Cuts Sales Forecast to Keep More Solar Farms on Books

SunEdison Inc. (SUNE) lowered its sales forecast and announced it plans to sell convertible notes to restructure its debt.

The company expects to sell about 380 megawatts to 405 megawatts of solar projects this year, lower than an earlier forecast of 405 megawatts to 435 megawatts, according to a statement today. Sales from semiconductor materials will be $905 million to $915 million, down from $920 million to $930 million.

SunEdison expects to complete as much as 540 megawatts of solar farms this year, unchanged from its earlier forecast, and will keep more of them on its balance sheet rather than selling them “in an effort to retain more long-term project value,” according to the statement.

To contact the editor responsible for this story: Will Wade at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.